Panvel, a part of Mumbai Metropolitan Region mostly famous for its natural scenic beauty, beautiful temples and different historical forts. During last few years, the area saw a rampant real estate development and has become a desirable location for the investors. With the surging demands, the development and growth are expected to continue in coming years.
Here are five prime reasons to invest in Panvel properties Blox which is India’s first technology-based and consumer-centric real estate buying platform.
- Offers great rental opportunity: Due to its proximity to main city and different industrial hubs, the demand for Panvel properties has gone up. The rental yield has increased to 8%. Panvel has also become a potential vacation rental spot as this area is close by many weekend getaways, adventure and natural spots.
- Bright scope for good future returns: Two big projects are to be completed recently in Panvel-one is the Mumbai Trans Harbor Link (MTHL) by the end of 2023 and the other one is the Navi Mumbai International Airport by the end of 2024. The completion of these two major projects will spike up the selling rate of the properties here. If someone invests in this area, there is a chance to get price appreciation. Since 2022, Panvel properties have appreciated by 3.84%. Moreover, the airport is expected to create around 150000 direct and 250000 indirect job opportunities.
- Well-connected railway networks and roads: Panvel is a well-connected area which connects the Western lines with the main city. Since it is connected with Sion-Panvel Expressway, Mumbai-Pune highway, NH-4B and NH-66, Panvel makes it convenient to travel to any part of the city. Besides, Panvel railway station is a big junction on Konkan Railway Line, connecting major cities like Pune, Mumbai main city, Goa etc.
- Assistance from The Government and official authorities: The Panvel Municipal corporation is the 27th Municipal Corporation in Maharashtra State and first civic authority in Raigad district. The municipal corporation gives the assurance to provide basic civic services and amenities to the Panvel citizens. The corporation also implements many development schemes for the betterment of this area.
- Growing and diverse real estate market: One of the attractive features of Panvel is that it has got a variety of properties. From luxurious villas to affordable housing apartments are available for different sets of buyers. Average property rate in Panvel is 7500 per sq ft which is cheaper than other fancy areas in Mumbai. Popular developers like Lodha Group are also launching quality construction projects here with advanced amenities.
Panvel is an area where the residents can get every amenity for a comfortable living. With the booming online property searching and buying/selling platforms, the property searching has become easier. Since lots of developments are getting completed in next two years, now is the right time for buyers and investors to invest in Panvel properties.